BEFORE THE BELL: World markets fall after U.S. companies’ earnings come in lower than expected

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World stocks are lower this morning, setting them up for their worst losing streak in more than five years.

Investors are reacting to American companies like Amazon and Alphabet reporting lower than expected earnings.

That could spill over into Toronto and New York today. Both Bay and Wall Street recovered somewhat yesterday after tanking on Wednesday. The TSX had its biggest one-day loss in three years that day, while the Dow saw its biggest one day loss since 2011.

Bay Street could get a bit of a boost today on the news that Canada’s Senate has approved the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. At press time oil is down 89 cents to $66.44 U.S. per barrel, gold is up $6.20 to $1,238.60 an ounce and the loonie is down half a cent to 76.09 cents U.S.

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